{"id":514608,"date":"2023-01-03T15:34:22","date_gmt":"2023-01-03T20:34:22","guid":{"rendered":"https:\/\/uniquehot.com\/?p=514608"},"modified":"2024-06-11T08:04:20","modified_gmt":"2024-06-11T08:04:20","slug":"currency-expert-altcoins-bitcoin-ethereum","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/currency-expert-altcoins-bitcoin-ethereum\/","title":{"rendered":"Currency Expert Explains Why Altcoins Experience More Carnage Than Bitcoin And Ethereum"},"content":{"rendered":"

As the current bear market in crypto continues to deepen, Bitcoin has fallen by 78%, and Ethereum by 82%. Yet elsewhere in the crypto market, many altcoins are down by as much as 96% or more<\/a>.\u00a0<\/span><\/p>\n

In a recent video, Elliott Wave International Currency & Crypto Analyst Jason Soni sheds some light on why this occurs and what this could mean for various cryptocurrencies.\u00a0<\/span><\/p>\n

Breaking Down Why Some Crypto Assets Crash More Than Others<\/h2>\n

Bitcoin price<\/a> has retraced by more than 78% from all-time highs set back in 2021. Ethereum, the second-largest cryptocurrency by market cap, saw an approximately 82% retracement from peak to trough thus far.\u00a0<\/span><\/p>\n

As you move down the ranks of cryptocurrencies, the total drawdown figures deepen. Cardano, for example, suffered a 92% collapse compared to the top two cryptocurrencies. Solana, once pegged to disrupt Ethereum, dropped by a staggering 96%<\/a>.\u00a0<\/span><\/p>\n

Related Reading: Bitcoin Price Prediction: What Elliott Wave Theory Suggests Is Next For BTC<\/a><\/div>\n

In a new video<\/a> entitled \u201cLooking at Opportunities for the Next Crypto Bull Market,\u201d Elliott Wave International Currency & Crypto Analyst Jason Soni touches on why \u2013 theoretically \u2013 this discrepancy exists.\u00a0<\/span><\/p>\n

According to Soni, newer altcoins in their first cycle will see the deepest retracement. As cryptocurrencies mature, and go through more boom and bust cycles, retracements are less steep, like we\u2019ve seen with Bitcoin and Ethereum.\u00a0<\/span><\/p>\n

\"Ethereum<\/p>\n

ETH 2018 versus ADA 2022 | ETHUSD on TradingView.com<\/pre>\n
Bitcoin Sets The Standard For Bear Market Corrections<\/h2>\n
In the video, Jason Soni used a comparison between many newer altcoins today following a similar trajectory and total drawdown as 2018 Ethereum.\u00a0With each new cycle, new participants join and liquidity in each asset increases, reducing volatility over time and resulting in less and less in terms of max drawdown.<\/p>\n
This is perhaps the most visible with Bitcoin<\/a>. Following Bitcoin\u2019s first major bull market, the first ever crypto asset retraced by 96%. In the second bear market ever in crypto, BTC retraced by 86%. During the 2018 bear market, Bitcoin sank by a grand total of 84%.\u00a0A softer landing yet might still be possible during this bear market.<\/span><\/p>\n
Related Reading: Solana Suffers Double-Digit Losses, Is There An End In Sight?<\/a><\/div>\n
Considering the severity of the drawdowns in most cryptocurrencies and the extreme negative sentiment, it could mean that the end of the bear market is near. At this point, Soni recommends avoiding \u201csocial media sentiment\u201d at all costs and says to instead \u201cfocus on the patterns.\u201d\u00a0<\/span><\/p>\n
The video, \u201cLooking at Opportunities for the Next Crypto Bull Market,\u201d is offered \u00a0exclusively through Elliott Wave International\u2019s Crypto Trader\u2019s Classroom<\/a>, which delivers\u00a0<\/span>three new in-depth lessons each week from top Elliott Wave analysts. Many instructional videos include specific crypto charts and trading setups, using Elliott Wave Theory. You can learn more about Elliott Wave International’s Crypto Trader\u2019s Classroom by clicking here<\/a>.\u00a0<\/span><\/p>\n
Follow @TonySpilotroBTC on Twitter<\/a> or join\u00a0the TonyTradesBTC Telegram<\/a> for exclusive daily market insights and technical analysis education. Please note: Content is\u00a0educational and should not be\u00a0considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
As the current bear market in crypto continues to deepen, Bitcoin has fallen by 78%, and Ethereum by 82%. Yet elsewhere in the crypto market, many altcoins are down by as much as 96% or more.\u00a0 In a recent video, Elliott Wave International Currency & Crypto Analyst Jason Soni sheds some light on why this occurs and what this could mean for various cryptocurrencies.\u00a0 Breaking Down Why Some Crypto Assets Crash More Than Others Bitcoin price has retraced by more than 78% from all-time highs set back in 2021. Ethereum, the second-largest cryptocurrency by market cap, saw an approximately 82% retracement from peak to trough thus far.\u00a0 As you move down the ranks of cryptocurrencies, the total drawdown figures deepen. Cardano, for example, suffered a 92% collapse compared to the top two cryptocurrencies. Solana, once pegged to disrupt Ethereum, dropped by a staggering 96%.\u00a0 Related Reading: Bitcoin Price Prediction: What Elliott Wave Theory Suggests Is Next For BTC In a new video entitled \u201cLooking at Opportunities for the Next Crypto Bull Market,\u201d Elliott Wave International Currency & Crypto Analyst Jason Soni touches on why \u2013 theoretically \u2013 this discrepancy exists.\u00a0 According to Soni, newer altcoins in their first cycle will see the deepest retracement. As cryptocurrencies mature, and go through more boom and bust cycles, retracements are less steep, like we\u2019ve seen with Bitcoin and Ethereum.\u00a0 ETH 2018 versus ADA 2022 | ETHUSD on TradingView.com Bitcoin Sets The Standard For Bear Market Corrections In the video, Jason Soni used a comparison between many newer altcoins today following a similar trajectory and total drawdown as 2018 Ethereum.\u00a0With each new cycle, new participants join and liquidity in each asset increases, reducing volatility over time and resulting in less and less in terms of max drawdown. This is perhaps the most visible with Bitcoin. Following Bitcoin\u2019s first major bull market, the first ever crypto asset retraced by 96%. In the second bear market ever in crypto, BTC retraced by 86%. During the 2018 bear market, Bitcoin sank by a grand total of 84%.\u00a0A softer landing yet might still be possible during this bear market. Related Reading: Solana Suffers Double-Digit Losses, Is There An End In Sight? Considering the severity of the drawdowns in most cryptocurrencies and the extreme negative sentiment, it could mean that the end of the bear market is near. At this point, Soni recommends avoiding \u201csocial media sentiment\u201d at all costs and says to instead \u201cfocus on the patterns.\u201d\u00a0 The video, \u201cLooking at Opportunities for the Next Crypto Bull Market,\u201d is offered \u00a0exclusively through Elliott Wave International\u2019s Crypto Trader\u2019s Classroom, which delivers\u00a0three new in-depth lessons each week from top Elliott Wave analysts. Many instructional videos include specific crypto charts and trading setups, using Elliott Wave Theory. You can learn more about Elliott Wave International’s Crypto Trader\u2019s Classroom by clicking here.\u00a0 Follow @TonySpilotroBTC on Twitter or join\u00a0the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is\u00a0educational and should not be\u00a0considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":514609,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1144,6664,58757,1946,8686],"class_list":["post-514608","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btcusd","tag-crypto","tag-elliott-wave-theory","tag-ethereum","tag-ethusd"],"acf":[],"yoast_head":"\nCurrency Expert Explains Why Altcoins Experience More Carnage Than Bitcoin And Ethereum<\/title>\n<meta name=\"description\" content=\"As the current bear market in crypto continues to deepen, Bitcoin has fallen by 78%, and Ethereum by 82%. 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/uniquehot.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Currency Expert Explains Why Altcoins Experience More Carnage Than Bitcoin And Ethereum","url":"http:\/\/uniquehot.com\/news\/currency-expert-altcoins-bitcoin-ethereum\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/currency-expert-altcoins-bitcoin-ethereum\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/01\/iStock-1208625534.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/01\/iStock-1208625534.jpeg?fit=1254%2C836"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Tony \"El Toro\" Severino"}],"creator":["Tony \"El Toro\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btcusd","crypto","elliott wave theory","ethereum","ethusd"],"dateCreated":"2023-01-03T20:34:22Z","datePublished":"2023-01-03T20:34:22Z","dateModified":"2024-06-11T08:04:20Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Currency Expert Explains Why Altcoins Experience More Carnage Than Bitcoin And Ethereum\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/currency-expert-altcoins-bitcoin-ethereum\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/currency-expert-altcoins-bitcoin-ethereum\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/iStock-1208625534.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/iStock-1208625534.jpeg?fit=1254%2C836\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"El Toro\\\" Severino\"}],\"creator\":[\"Tony \\\"El Toro\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btcusd\",\"crypto\",\"elliott wave theory\",\"ethereum\",\"ethusd\"],\"dateCreated\":\"2023-01-03T20:34:22Z\",\"datePublished\":\"2023-01-03T20:34:22Z\",\"dateModified\":\"2024-06-11T08:04:20Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/01\/iStock-1208625534.jpeg?fit=1254%2C836","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/514608"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=514608"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/514608\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/514609"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=514608"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=514608"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=514608"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}